Oil prices climb as Iran hesitates on US peace negotiations
Brent crude rose to 98 dollars as Iran weighed attending peace talks before a ceasefire deadline. Shipping remains stalled in the Strait of Hormuz on Tuesday.
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Oil prices climbed roughly 3% on Tuesday as Iran remained undecided about attending peace negotiations with the United States. With only one day remaining before the ceasefire expires, Brent Crude Oil futures rose by $3, or 3.1%, to settle at $98.48 a barrel. Meanwhile, West Texas Oil increased by $2.52, or 2.8%, to close at $92.13.
